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The Birth of Neoliberal Politics: From Hayek and Friedman to Reagan and Thatcher

14.99 €
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The Birth of Neoliberal Politics: From Hayek and Friedman to Reagan and Thatcher
14.99 €
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The transition from the complete dominance of ideas of state intervention in the first half of the 20th century to the neoliberal consensus of the late 20th century is a key, yet understudied, moment in modern history. D. Stedman-Jones analyzes how neoliberal ideas—about individual freedom, free markets, and deregulation—transformed into electorally successful political programs in Great Britain and the United States from the 1940s to the 1980s. In an attempt to answer the question of why, faced with the profound economic crisis of the 1970s, politicians and officials turned to neoliberal ideas, the author paints a three-dimensional picture that combines (a) the intellectual history of the origin, development, and spread of neoliberal ideas from the 1940s to the 1970s, (b) economic history from the postwar boom to the stagflation of the 1970s, and (c) the evolution of party politics in the United States and Great Britain during this period. The book offers a fascinating history of how ideas trickled from university departments into society and economic policy. Its central figures are the Mont Pelerin Society, the first Chicago School, and numerous think tanks, as well as Karl Popper, Ludwig von Mises, Friedrich Hayek, Michael Friedman, and John Stigler, all representatives of the public choice school. Particular attention is given to the role and intellectual evolution of Friedman and the Chicago School of Economics in general.
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